Crypto community eyeing three macro events to tip crypto scales in July
— July 26th, Us bureau, Cpi release datecpi, Public, Developed, Made, Keep inflation, Educational platform, Curb inflation, Add — 1 min read
The monthly Consumer Price Index (CPI) and the data related to inflation will be out to the public on July 13. On July 26-27, an important announcement regarding the hike of the interest rates will be made, and on July 28, the US Q2 2022 gross domestic product (GDP) estimates will be released. These significant releases will judge whether the US is in a technical recession. If the US faces a recession which might begin in 2023, Bitcoin will face its first full-scale recession and may decline like the tech stocks. Bitcoin was developed during a time of high inflation owing to the 2008 Global Financial Crisis and proved to be a great inflation hedge due to its scarcity and fixed supply. If inflation rises further, demand for crypto assets might be negatively impacted. Source